AMC Begins Accepting Dogecoin For Digital Gift Cards

AMC Entertainment Holdings Inc AMC CEO Adam Aron said Tuesday that the theater chain will accept Dogecoin DOGE/USD for the sale of digital gift cards.

What Happened: Aron announced on Twitter that AMC will sell digital gift cards up to a value of $200 a day with DOGE and other cryptocurrencies using a BitPay Wallet.

See Also: How To Buy Dogecoin (DOGE)

The gift cards are accepted on the AMC website, mobile application, and in theaters, as per Aron. 

YouTuber Matt Wallace noted the development in a tweet and said, “When we work together and stay strong anything is possible.”

“AMC NOW ACCEPTS DOGECOIN FOR GIFT CARDS!!! Right now there is only one major company in the world that accepts crypto and it is #Dogecoin.”

Aron’s announcement was also applauded by some others on Crypto Twitter.

DOGE traded 2.3% higher over 24 hours at $0.25. For the week the Shiba Inu-themed coin has shot up 26.89%.

Since the year began, DOGE has soared 4425.05%.

Why It Matters: AMC recently announced that they would accept some popular cryptocurrencies for online ticket purchases and concession payments by the end of 2021.

DOGE was not included in the list of cryptocurrencies at that time but later Aron held a poll on his Twitter to ask his following if AMC should explore accepting DOGE.

The results were overwhelmingly in favor of DOGE acceptance. Moreover, Aron noted that the poll was, by far, his most-read tweet ever. 

Elon Musk, the CEO of Tesla Inc TSLA was among those that liked Aron’s tweet. 

Price Action: On Tuesday, AMC shares closed nearly 0.8% higher at $37.06 in the regular session. In the after-hours session the shares declined by 0.16%.

Read Next: Elon Musk Says Reducing Dogecoin Fee 'Super Important' To Make Adoption At Places Like AMC Theaters Viable

Photo: Courtesy of JAH2k via Wikimedia

Posted In: Adam ArondogecoinMeme CoinsstonksTheaterswallstreetbetsCryptocurrencyNewsMarkets

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